Grant Funds and QCash: Helping You Help More Members

Retro QCash - cropped

Credit unions have always been there for the “little guy.” Hardworking people with low to moderate incomes, credit challenged, immigrants and completely overlooked by banks. We exist to help underserved consumers regardless of their race, religion, or sexual orientation. Whether they are blue collar, white collar, urban or rural, having access to affordable financial products is what we do.

QCash was created to help the little guy. We don’t use FICO to approve their small dollar loan, but rather take into account the relationship with the credit union. Because their membership matters. We loan to the person, not to a score.

According to the press release issued by the US Department of Treasury, CDFI RRP grant funds will be used to support eligible activities such as financial products, financial services, development services and certain operational activities, and to enable CDFIs to build capital reserves and loan-loss reserves.

QCash small dollar lending also qualifies for CDFI grant funds. The grants may be used for two eligible activities, loan loss reserves and technical assistance. We’d love to help you implement this program so that together we can take a solid step forward toward financial inclusion.

CU Insight